Byline: Gopal Sutar
(Category: Business)
RIYADH: The Indian currency has crossed the 50-mark against a US dollar yet again sending alarming signals in Indian markets, especially to those dependent on the greenback fluctuations. However, a large section of the Indian Diaspora in the Gulf is not complaining.
Hardly a year ago the Indian rupee was below the 40-mark against the US dollar and the current price is 20 percent higher in favor of dollar in just one year. With low returns on remittance and high inflation rate in India, last year was bad for millions of nonresident Indians (NRIs) especially those based in the Gulf as they remit money regularly …
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